Southside Capital 13F annual report
Southside Capital is an investment fund managing more than $382 million ran by Scott Carmel. There are currently 70 companies in Mr. Carmel’s portfolio. The largest investments include Tcf Financial Corporation Ne and Synovus Finl Corp, together worth $36.4 million.
$382 million Assets Under Management (AUM)
As of 7th October 2020, Southside Capital’s top holding is 401,722 shares of Tcf Financial Corporation Ne currently worth over $18.8 million and making up 4.9% of the portfolio value.
In addition, the fund holds 450,000 shares of Synovus Finl Corp worth $17.6 million.
The third-largest holding is Cushman Wakefield Plc worth $16.4 million and the next is iStar worth $14.9 million, with 1,025,300 shares owned.
Currently, Southside Capital's portfolio is worth at least $382 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Southside Capital
The Southside Capital office and employees reside in Miami Beach, Florida. According to the last 13-F report filed with the SEC, Scott Carmel serves as the Managing Member at Southside Capital.
Recent trades
In the most recent 13F filing, Southside Capital revealed that it had opened a new position in
Apollo Global Mgmt Inc and bought 190,064 shares worth $9.07 million.
The investment fund also strengthened its position in Tcf Financial Corporation Ne by buying
26,724 additional shares.
This makes their stake in Tcf Financial Corporation Ne total 401,722 shares worth $18.8 million.
On the other hand, there are companies that Southside Capital is getting rid of from its portfolio.
Southside Capital closed its position in Capital One Finl Corp on 11th February 2020.
It sold the previously owned 200,000 shares for $18.2 million.
Scott Carmel also disclosed a decreased stake in iStar by approximately 0.1%.
This leaves the value of the investment at $14.9 million and 1,025,300 shares.
One of the average hedge funds
The two most similar investment funds to Southside Capital are Flagship Ventures Fund Iv, L.P. and Towercrest Capital Management. They manage $382 million and $382 million respectively.
Scott Carmel investment strategy
Southside Capital’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Finance — making up 23.3% of
the total portfolio value.
The fund focuses on investments in the United States as
42.9% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
6% of the total holdings value.
On the other hand, small-cap stocks make up only 4.3% of the portfolio.
The average market cap of the portfolio companies is close to $12.5 billion.
The complete list of Southside Capital trades based on 13F SEC filings
These positions were updated on February 11th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Tcf Financial Corporation Ne |
7.13%
401,722
|
$18,801,000 | 4.92% |
| Capital One Finl Corp |
Closed
200,000
|
$18,196,000 | |
| Synovus Finl Corp |
19.68%
450,000
|
$17,640,000 | 4.62% |
| Cushman Wakefield Plc |
44.71%
800,000
|
$16,352,000 | 4.28% |
| iStar, Inc. |
2.35%
1,025,300
|
$14,877,000 | 3.90% |
| Athene Hldg Ltd |
No change
273,233
|
$12,850,000 | 3.36% |
| Arch Cap Group Ltd |
78.33%
289,788
|
$12,429,000 | 3.25% |
| DXC Technology Co. |
No change
320,000
|
$12,029,000 | 3.15% |
| FS KKR Capital Corp. |
No change
1,850,000
|
$11,340,000 | 2.97% |
| Western Alliance Bancorp |
8.37%
194,188
|
$11,069,000 | 2.90% |
| Svb Finl Group |
5.58%
42,000
|
$10,544,000 | 2.76% |
| Markel Corp. |
14.96%
8,967
|
$10,251,000 | 2.68% |
| Berkley W R Corp |
102.00%
141,400
|
$9,771,000 | 2.56% |
| Alliance Data Systems Corp. |
30.77%
85,000
|
$9,537,000 | 2.50% |
| Apollo Global Mgmt Inc |
Opened
190,064
|
$9,068,000 | 2.37% |
| Enstar Group Limited |
26.40%
43,423
|
$8,982,000 | 2.35% |
| Wintrust Finl Corp |
No change
125,000
|
$8,862,000 | 2.32% |
| Fidelity Natl Information Sv |
61.52%
60,000
|
$8,345,000 | 2.19% |
| Walker & Dunlop, Inc. |
Closed
145,946
|
$8,163,000 | |
| Fiserv, Inc. |
40.00%
70,000
|
$8,094,000 | 2.12% |
| CorePoint Lodging, Inc. |
12.48%
753,827
|
$8,051,000 | 2.11% |
| East West Bancorp, Inc. |
7.66%
161,601
|
$7,870,000 | 2.06% |
| RealPage, Inc. |
16.00%
145,000
|
$7,794,000 | 2.04% |
| Ares Management Corp. |
28.67%
215,514
|
$7,692,000 | 2.01% |
| Old Rep Intl Corp |
6.89%
342,839
|
$7,669,000 | 2.01% |
| Vici Pptys Inc |
20.00%
300,000
|
$7,665,000 | 2.01% |
| American Intl Group Inc |
Opened
138,712
|
$7,120,000 | 1.86% |
| Willis Towers Watson Pub Ltd |
No change
35,000
|
$7,068,000 | 1.85% |
| Assurant, Inc. |
30.25%
52,100
|
$6,829,000 | 1.79% |
| Axa Equitable Hldgs Inc |
Opened
270,000
|
$6,691,000 | 1.75% |
| Cadence Bancorporation |
12.36%
350,569
|
$6,356,000 | 1.66% |
| Re Max Hldgs Inc |
36.54%
165,000
|
$6,351,000 | 1.66% |
| American Finl Group Inc Ohio |
Opened
55,500
|
$6,086,000 | 1.59% |
| ConnectOne Bancorp, Inc. |
No change
234,187
|
$6,023,000 | 1.58% |
| PayPal Holdings, Inc. |
Opened
55,000
|
$5,949,000 | 1.56% |
| Innovative Indl Pptys Inc |
17.86%
76,610
|
$5,812,000 | 1.52% |
| Voya Finl Inc |
Closed
105,000
|
$5,716,000 | |
| Cardtronics plc |
Closed
175,000
|
$5,292,000 | |
| NCR Corp. |
42.57%
148,600
|
$5,225,000 | 1.37% |
| Zions Bancorporation N A |
No change
100,000
|
$5,192,000 | 1.36% |
| Mercury Genl Corp New |
Opened
105,234
|
$5,128,000 | 1.34% |
| Selective Ins Group Inc |
No change
68,000
|
$4,433,000 | 1.16% |
| Ameriprise Finl Inc |
Closed
27,334
|
$4,021,000 | |
| Safehold Inc. |
Closed
125,000
|
$3,812,000 | |
| Cannae Holdings, Inc. |
Opened
100,000
|
$3,719,000 | 0.97% |
| Global Pmts Inc |
Opened
20,000
|
$3,651,000 | 0.96% |
| BankUnited, Inc. |
No change
90,000
|
$3,290,000 | 0.86% |
| Chubb Limited |
Closed
20,000
|
$3,229,000 | |
| Moelis & Co. |
58.84%
88,500
|
$2,825,000 | 0.74% |
| ProAssurance Corp. |
Closed
70,000
|
$2,819,000 | |
| Eagle Bancorp Mont Inc |
No change
140,313
|
$2,674,000 | 0.70% |
| i3 Verticals, Inc. |
49.70%
91,877
|
$2,593,000 | 0.68% |
| Navient Corporation |
Closed
170,201
|
$2,179,000 | |
| Marcus & Millichap, Inc. |
38.19%
57,800
|
$2,153,000 | 0.56% |
| Palomar Holdings, Inc. |
Closed
50,000
|
$1,971,000 | |
| Gallagher Arthur J & Co |
No change
17,915
|
$1,706,000 | 0.45% |
| BayCom Corp. |
No change
81,824
|
$1,658,000 | 0.43% |
| Citizens Cmnty Bancorp Inc M |
15.04%
150,000
|
$1,633,000 | 0.43% |
| Brown & Brown, Inc. |
No change
40,000
|
$1,579,000 | 0.41% |
| Repay Hldgs Corp |
82.61%
100,000
|
$1,465,000 | 0.38% |
| Essential Pptys Rlty Tr Inc |
Closed
62,599
|
$1,434,000 | |
| Health Ins Innovations Inc |
58.12%
59,673
|
$1,151,000 | 0.30% |
| First Natl Corp |
No change
59,040
|
$1,126,000 | 0.29% |
| Carolina Tr Bancshares Inc |
Closed
102,264
|
$1,073,000 | |
| Mid Penn Bancorp, Inc. |
2.10%
37,363
|
$959,000 | 0.25% |
| Mackinac Finl Corp |
17.48%
55,575
|
$864,000 | 0.23% |
| Net 1 Ueps Technologies Inc |
33.33%
260,000
|
$862,000 | 0.23% |
| Riverview Finl Corp New |
1.61%
73,729
|
$820,000 | 0.21% |
| Pacific Mercantile Bancorp |
No change
112,228
|
$812,000 | 0.21% |
| Green Dot Corp. |
88.62%
33,163
|
$773,000 | 0.20% |
| MainStreet Bancshares, Inc. |
10.91%
32,821
|
$755,000 | 0.20% |
| Oha Invt Corp |
Closed
554,525
|
$721,000 | |
| Priority Technology Hldgs In |
39.23%
300,000
|
$655,000 | 0.17% |
| Peoples Bancorp N C Inc |
No change
15,669
|
$459,000 | 0.12% |
| Salisbury Bancorp, Inc. |
No change
10,000
|
$407,000 | 0.11% |
| Portman Ridge Fin Corp |
Opened
204,508
|
$386,000 | 0.10% |
| Cb Finl Svcs Inc |
No change
10,000
|
$269,000 | 0.07% |
| Magyar Bancorp, Inc. |
9.58%
21,916
|
$240,000 | 0.06% |
| QuinStreet, Inc. |
Opened
13,391
|
$205,000 | 0.05% |
| Sb Finl Group Inc |
Opened
7,168
|
$126,000 | 0.03% |
| Old Point Finl Corp |
No change
4,856
|
$119,000 | 0.03% |
| First Internet Bancorp |
No change
3,896
|
$82,000 | 0.02% |
| Medley Mgmt Inc |
No change
9,066
|
$24,000 | 0.01% |
| No transactions found | |||
| Showing first 500 out of 83 holdings | |||
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